World Business News

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Japan’s Abe confirms corporate tax cuts from 2015

Zone(s): Japan ¦ Sector(s): Taxation
[16 June 2014,] By Mary Swire,, Hong Kong:  Prime Minister Shinzo Abe has confirmed that Japan’s effective corporate tax rate will be reduced from its current rate of up to 36 percent to below 30 percent in the next few years. A first cut is expected to occur in the 2015 fiscal year.

Such an announcement had been expected since both the Government’s and the ruling Liberal Democratic Party’s (LDP) tax panels recently agreed to the policy, although it is unlikely that the Government’s program will stipulate that the corporate tax rate should eventually be reduced as far as 25 percent, as had been suggested by the Government tax panel.

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